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I had made the distinction but figured it nobody's business if twenty minutes later I was negotiating my non-negotiable FRNs for gasoline. Then Shoonra defined negotiable to be exchangeable for a higher form of currency.
I am no longer concerned about negotiating or non-negotiating my FRNs. It is my US Notes in the form of FRNs that are non-negotiable FRNs.
Regards,
David Merrill.
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